With the Council for Estate Agencies (CEA) coming down hard on the industry, there is a growing need for real estate agents to protect themselves. As estate agents look to renew their license this month, many will also be updating their professional indemnity insurance to help safeguard their rights. “By taking up the right type of Real Estate Professional Indemnity Insurance coverage, it also takes...
Professional Indemnity Insurance
One of Singapore's biggest real estate agencies, PropNex Realty, is firing more than one-third of its agents. According to its CEO, the move is aimed at cleaning up the profession. PropNex is firing those who have been with them for over a year, but have yet to submit a single transaction. About 2,800 agents currently on its list will be affected. The agents were first given a choice to remain as...